Copper mine firm £1m share offer

Anglesey Mining will sell shares to raise money for feasibility studies

A company aiming to restart copper mining on Anglesey hopes to sell new shares to raise over £1m.

The shares, worth £1.16m, will be offered to a small group of shareholders in Anglesey Mining.

Money raised will be used to fund feasibility studies and ongoing exploration and development work on Parys Mountain near Amlwch.

It is believed there could be around 6.5m tonnes of copper, zinc and lead on the site.

The money raised from the sale of shares will also go towards a feasibility study at another of the company's projects at Labrador Iron Ore in Canada.

"We are keen to drive both these projects forward to a production decision as fast as possible," said Anglesey Mining's chairman John Kearney.

"We look forward to reporting the results from the feasibility work over the next few months," he added.

After the results of the feasibility studies are known the company will need to raise another £30m to start production.

When production starts the company estimate creating 100 jobs at the site near Amlwch.